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Israel's economy shrinks more than expected on Gaza war
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<blockquote data-quote="Truth Hurts" data-source="post: 29608459" data-attributes="member: 477372"><p><img src="https://ichef-bbci-co-uk.cdn.ampproject.org/ii/AW/s/ichef.bbci.co.uk/ace/ws/640/cpsprodpb/E14E/production/_132687675_shop.png" alt="Damaged shop in Tel Aviv, hit by a rocket fired by Hamas on 7 October" class="fr-fic fr-dii fr-draggable " style="" /></p><p>IMAGE SOURCE,GETTY IMAGES</p><p></p><p><strong>Israel's economy shrank by far more than expected in the wake of conflict with Hamas in Gaza, according to official figures.</strong></p><p></p><p>Gross domestic product (GDP) - a key measure of a country's economic health - fell by 19% on an annualised basis in the fourth quarter of 2023.</p><p>That is the equivalent of a fall of 5% between October and December.</p><p></p><p>GDP was "directly affected" by the outbreak of the conflict on 7 October, the Central Bureau of Statistics said.</p><p></p><p>Israel and Hamas have been at war after gunmen from the Palestinian group launched an unprecedented attack on Israel from Gaza - the deadliest in Israel's history.</p><p></p><p>About 1,200 people were killed during the attack. Hamas, which is considered a terrorist group by Israel, the US, the European Union and the UK, also took more than 250 men, women and children hostage.</p><p></p><p>An Israeli military campaign has followed, which has killed 29,000 people in the Palestinian territory, according to the Hamas-run health ministry there.</p><p></p><p><a href="https://www.bbc.com/news/business-68337731#amp_tf=From%20%251%24s&aoh=17084711267174&referrer=https%3A%2F%2Fwww.google.com&ampshare=https%3A%2F%2Fwww.bbc.com%2Fnews%2Fbusiness-68337731" target="_blank">https://www.bbc.com/news/business-68337731#amp_tf=From %1$s&aoh=17084711267174&referrer=https://www.google.com&ampshare=https://www.bbc.com/news/business-68337731</a></p></blockquote><p></p>
[QUOTE="Truth Hurts, post: 29608459, member: 477372"] [IMG alt="Damaged shop in Tel Aviv, hit by a rocket fired by Hamas on 7 October"]https://ichef-bbci-co-uk.cdn.ampproject.org/ii/AW/s/ichef.bbci.co.uk/ace/ws/640/cpsprodpb/E14E/production/_132687675_shop.png[/IMG] IMAGE SOURCE,GETTY IMAGES [B]Israel's economy shrank by far more than expected in the wake of conflict with Hamas in Gaza, according to official figures.[/B] Gross domestic product (GDP) - a key measure of a country's economic health - fell by 19% on an annualised basis in the fourth quarter of 2023. That is the equivalent of a fall of 5% between October and December. GDP was "directly affected" by the outbreak of the conflict on 7 October, the Central Bureau of Statistics said. Israel and Hamas have been at war after gunmen from the Palestinian group launched an unprecedented attack on Israel from Gaza - the deadliest in Israel's history. About 1,200 people were killed during the attack. Hamas, which is considered a terrorist group by Israel, the US, the European Union and the UK, also took more than 250 men, women and children hostage. An Israeli military campaign has followed, which has killed 29,000 people in the Palestinian territory, according to the Hamas-run health ministry there. [URL]https://www.bbc.com/news/business-68337731#amp_tf=From%20%251%24s&aoh=17084711267174&referrer=https%3A%2F%2Fwww.google.com&share=https%3A%2F%2Fwww.bbc.com%2Fnews%2Fbusiness-68337731[/URL] [/QUOTE]
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